Bitcoin Just Saw A Key Technical Breakout: Big Reaction From Bulls Likely

Bitcoin started a steady increase and broke the $9,300 resistance against the US Dollar. BTC is currently up close to 3% and it might continue to rise towards the $9,500 resistance. Bitcoin is gaining momentum and it recently broke the $9,300 resistance zone. The price traded to a new weekly high at $9,372 and settled above the 100 hourly simple moving average. There is a short-term ascending channel forming with support near $9,290 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair remains supported on…

There’s a Key $12 Million Buy Wall Boosting Bitcoin’s Immediate Outlook

After attempting to break below $9,000 on Sunday, Bitcoin has mounted somewhat of a comeback. As of the time of this article’s writing, the cryptocurrency trades at $9,350. This is the highest BTC has traded in over a week. BTC price chart from TradingView.com While some doubt it can make it past the imminent $9,500 resistance, buyers are stepping in en-masse to support price action. This supports the chances that BTC rallies higher in the days ahead. Related Reading: Crypto Tidbits: Bitcoin Stalls at $9k, Cardano Shelley, Elon Musk &…

Bitcoin at Potentially Significant Turning Point: $9,000 Holds The Key

Bitcoin declined sharply after it faced a strong rejection near $9,200 against the US Dollar. BTC is still holding the $9,000 support, below which there is a risk of a sustained decline. Bitcoin fell sharply below $9,000, but it recovered quickly from the $8,914 swing low. The price is now facing a major resistance near $9,100 and the 100 hourly simple moving average. There is a crucial bearish trend line forming with resistance near $9,120 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could…

Ripple (XRP) is Showing Early Signs of Fresh Rally, But $0.18 is the Key

Ripple is consolidating above the $0.1720 support zone against the US Dollar. XRP price seems to be preparing for a fresh rally, but it must surpass $0.1800 for a sustained upward move. Ripple is slowly rising and it is currently trading above $0.1750 against the US dollar. The price is likely to face hurdles near $0.1780, $0.1800, and the 100 hourly SMA. There is a major bearish trend line forming with resistance near $0.1760 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start…

Key Indicator Says Bitcoin’s Momentum Is Weakening: Where Will BTC Head?

Bitcoin has been stuck in the $9,000s for the past two months, trading between $8,500 and $10,000 for weeks on end. While the cryptocurrency has maintained the $8,500 support level on multiple occasions, a key indicator shows that the bullish momentum is weakening. Related Reading: Crypto Tidbits: BTC At $9k, Grayscale Ethereum Trust, Cryptocurrency & PayPal Bitcoin Has “Weakening” Bullish Momentum: Analyst According to Brave New Coin analyst Josh Olszewicz, the Ichimoku Cloud indicator shows that Bitcoin has “weakening bullish momentum” due to the consolidation: “Cloud still shows weakening bullish…

Bitcoin Dives Below Key Uptrend Support: Here’s Why Bears Are Comfortable

Bitcoin started a major decline after it broke the $9,500 support against the US Dollar. BTC is now trading below $9,000 and it remains at a risk of more losses below $8,800. Bitcoin is gaining bearish momentum below the $9,500 and $9,200 support levels. The price traded as low as $8,813 and it is currently correcting higher. There is a crucial bearish trend line forming with resistance near $9,100 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair could correct higher, but it is likely…

Ripple (XRP) Showing Positive Signs But This Resistance Holds The Key

Ripple is currently correcting higher from the $0.1783 low against the US Dollar. XRP price is showing positive signs, but it must surpass $0.1850 to continue higher. Ripple slowly gaining traction and it is trading above the $0.1800 level against the US dollar. The price is facing a couple of strong hurdles near the $0.1840 and $0.1850 levels. There was a break above a major bearish trend line with resistance near $0.1825 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair must settle above the…

Bitcoin Recovery Runs Into Resistance: Here’s Are Key Breakout Levels

Bitcoin started an upside correction after testing the $9,000 support against the US Dollar. BTC is now facing a strong resistance near the $9,300 and $9,400 levels. Bitcoin is recovering and it is trading above the $9,200 support level. The price is facing a few key hurdles near $9,300, $9,400, and the 100 hourly simple moving average. There is a major contracting triangle forming with resistance near $9,330 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could either climb further above $9,330 or start…

Research Suggests Transparency is Key for Utility-Based Crypto Projects

Researchers suggest that utility token issuers should provide basic levels of transparency to the public before listing on exchanges. They say that doing so may increase stakeholder confidence and attract new market participants. This is the key to crypto adoption, according to Duke University School of Law’s FinReg Blog on June 25.  Disclosure certain information is key for crypto performance In the blog post, authors Nicholas J. Krapels and Dan Liebau pointed out that the majority of crypto industry experts don’t believe utility token issuers disclose enough information to their…

Key On-Chain Metric Shows Bitcoin Remains Bullish Despite $800 Crash

The flagship cryptocurrency kicked off the week on the right foot, rising to a high of $9,800 on Monday. But the upswing appears to have been significant enough for some investors to take profit. Subsequently pushing the price of Bitcoin down to nearly $9,000. The sudden bearish impulse wiped out over $62 million worth of long and short BTC positions on BitMEX alone. Regardless, a considerable amount of buy orders were triggered around the $9,100 support level allowing Bitcoin to rebound quickly. Bitcoin’s $9,100 Support Level Holds Steady. (Source: TradingView)…